DUBAI, April 27 (Reuters) - Qatari telecom operator Ooredoo reported a 75 percent rise in first-quarter net profit on Wednesday driven by foreign exchange gains from Indonesia and Myanmar.

The earnings of the former monopoly, which operates in about a dozen territories across the Middle East, Africa and Asia, have been volatile since mid-2013 when foreign exchange losses and plunging earnings from Iraq outweighed a strong domestic performance.

Ooredoo made a net profit of 879 million Qatari riyals ($241.44 million) in the three months to March 31, it said in a statement. This compares with a profit of 501 million riyals in the year-earlier period.

Analysts at EFG Hermes and SICO Bahrain polled by Reuters had forecast majority state-owned Ooredoo would make a quarterly profit of 452.5 million riyals and 487 million riyals respectively.

Ooredoo's consolidated first-quarter revenue was 7.89 billion riyals, versus 8.04 billion riyals a year ago.

The group's bottom line was significantly boosted by foreign currency gains in Indonesia and Mayanmar, Ooredoo said. It also reported strong growth in its subscriber base from the two countries.

In Qatar, the company's quarterly net profit rose 1 percent to 484 million riyals.

In Iraq, Ooredoo unit Asiacell made a quarterly profit of 31 million riyals, down from 49 million riyals a year ago.

Ooredoo Kuwait -- majority-owned by Ooredoo and with operations in Algeria, Tunisia, the Maldives and the Palestinian Territories -- has already reported a 356 percent rise in first-quarter profit to 10.21 million Kuwaiti dinars.

($1 = 3.6407 Qatar riyals)

(Reporting by Hadeel Al Sayegh. Editing by Jane Merriman) ((Hadeel.AlSayegh@thomsonreuters.com; +971566883310;))

Keywords: OOREDOO RESULTS/